Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Monday, December 11th, Wall Street Journal reports. Shareholders of record on Friday, January 5th will be paid a dividend of 0.25 per share by the business services provider on Wednesday, January 31st. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, January 4th. This is an increase from Morningstar’s previous quarterly dividend of $0.23.
Shares of Morningstar (NASDAQ:MORN) traded down $1.26 on Monday, reaching $92.53. The company’s stock had a trading volume of 54,100 shares, compared to its average volume of 60,365. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 1.69. Morningstar has a one year low of $68.43 and a one year high of $95.07. The firm has a market capitalization of $3,935.27, a price-to-earnings ratio of 35.18 and a beta of 0.78.
Morningstar announced that its Board of Directors has approved a stock repurchase plan on Friday, December 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, Director Steven N. Kaplan sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $91.85, for a total value of $229,625.00. Following the transaction, the director now owns 44,821 shares in the company, valued at $4,116,808.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gail S. Landis sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $87.00, for a total value of $43,500.00. Following the completion of the transaction, the director now owns 47,921 shares in the company, valued at approximately $4,169,127. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,500 shares of company stock worth $2,024,825. Company insiders own 57.40% of the company’s stock.
A hedge fund recently raised its stake in Morningstar stock. The Manufacturers Life Insurance Company grew its position in Morningstar, Inc. (NASDAQ:MORN) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510 shares of the business services provider’s stock after acquiring an additional 98 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Morningstar were worth $118,000 as of its most recent SEC filing. Institutional investors own 38.65% of the company’s stock.
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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